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The ETF's primary objective is to offer investors exposure to large-capitalization U.S. companies that exhibit both robust financial fundamentals and favorable technical momentum trends. It endeavors to achieve investment outcomes that closely mirror the performance of the Terranova U.S. Quality Momentum Index, prior to accounting for fees and expenses. This index was conceptualized and developed by Joe Terranova, who holds the positions of Senior Managing Director and Chief Market Strategist for Virtus Investment Partners. Its distinct methodology is rooted in the extensive investment…
Is JOET's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
Virtus Terranova U.S. Quality Momentum ETF is a passively managed vehicle with a strategy bringing together the momentum and quality factors. JOET's underperformance continues as it has trailed IVV since the beginning of the year. Its active return for December 2020–April 2026 was -3.99%. JOET's persistent underdelivery once again raises questions about the efficacy of its dual-factor approach in generating alpha.
Concerns surrounding AI disruption recalibrated valuations lower for the software industry and select financial institutions. Value sectors such as energy, materials, utilities, consumer staples, industrials, and real estate advanced. Virtus Terranova U. S. Quality Momentum ETF posted a total return of -4.82% at NAV versus the Index's return of -4.77%.
The Terranova U.S. Quality Momentum Index filters securities based on positive technical momentum and then ranks them by measures of fundamental quality. The fourth quarter provided continued evidence of a healthier investing environment relative to the narrower market opportunities of the prior two years. During the fourth quarter, the S&P 500® Index ('SPX') posted 13.2% earnings growth and 8.3% revenue growth.
Empirical Asset Management LLC trimmed its position in Virtus Terranova U.S. Quality Momentum ETF (NASDAQ: JOET) by 52.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,079 shares of the company's stock after selling 33,417 shares
The Virtus Terranova U.S. Quality Momentum ETF combines quality and momentum factors with an equal-weighted approach, targeting broad-based quality momentum rallies. JOET's methodology underperforms in most regimes, failing to outperform pure quality, pure momentum, or even equal-weighted broad market alternatives like RSP. The ETF's sector allocation is pro-growth and cyclical, but requires a rare, simultaneous alignment of broad momentum, quality leadership, and supportive macro conditions.